Exchanging Money

Money as a Medium of Exchange for Class 2 Math

In our daily life, Money is used as a medium of exchange to measure the value of goods. In this learning concept, the students will learn about Money as a medium of exchange for class 2. Also, they will get to know about real-life problems related to the topic.

In this learning concept, the students will learn:

• Rupee to paisa Conversion
• paisa to rupee Conversion
• Indian currency exchange rate

Each concept is explained to class 2 maths students using illustrations, examples, and mind maps. Students can assess their learning by solving the two printable worksheets given at the pages’ end.
Download the Money as a medium of exchange notes worksheet for class 2 and check the solutions for the concept of Money as a medium of exchange provided in PDF format.

• It is the process of changing one higher amount of note or coin with the lower amount of coins and notes while keeping the value of the money the same.
• There are many combinations possible for the exchange of money.

Let us discuss with an example.

Example:

Now, Rs 2 + Rs 1 + Rs 1 + Rs 1 + Rs 1 + Rs 1 + Rs 1 + Rs 1 + Rs 1

= Rs 2 + Rs 8 = Rs 10

Hence, Rani can give exchange of Rs 10 to Raju.

The below list is about some exchange of coins and notes.

There are many more combinations possible except the shown combinations for the exchange of Money.

Rupee to Paisa

• To convert rupees to paise, multiply the amount by 100.

(i) Rs 5

(ii) Rs 10. 45

Answer:

(i) Rs 5 = 5 × 100 = 500 Paise

(ii) Rs 10. 45 = Rs 10 + 45 Paise

10 × 100Paise = 1000 Paise

So, 1000 Paise + 45 Paise = 1045 Paise

Paise to Rupees

• To convert paise to rupee put ‘.’ before the second place from the right.

(i) 145 p

(ii) 1256 p

Answer:

(i) 145p = Rs 1.45

(ii) 1256p = Rs 12.56

Indian Currency Exchange Rate

• The process of changing one currency into another currency is called exchanging currency.